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1057 Euclid Ave

Long Beach, CA

About this property

1057 Euclid ave is a 6 unit garden style apartment building located in the Eastside area of Long Beach. Units are large with vaulted ceilings and an open floorplan. Our value add scheme consisted of a complete overhaul of the interiors with new vinyl flooring, stainless steel appliances, custom cabinets and a new paint scheme. We also remodeled the exterior and added a common area yard for all tenants. Since remodeling the building, Euclid has returned strong fundamentals with a low vacancy rate. Solid suburban Long Beach location close to the beach, local shops and California State University Long Beach.

The property sold August 24th, 2021 and Cadence delivered over a 15% IRR to investors per year on their investment.

No. of Units

6

Key Metrics

Realized Investor IRR: 15.19%

Equity Multiple: 1.28x

Purchase Date

March 15, 2019

Sale Price

$2,025,000

Acquisition Price

$1,365,000

Sold Date

August 24th, 2021